The appetite for Chinese buyers to acquire US agribusinesses has not ended with Smithfield Foods' purchase by Shuanghui International.
Beijing-based seed group Agria Corp - which two years ago bought control of PGG Wrightson, New Zealand's largest agricultural services group, which also operates on Australia - has set its sights on North American acquisitions too.
The group said it expected "further consolidation trends in the global agriculture industry", in particular "in markets which would provide merger and acquisition opportunities for us, including North America and Greater China".
Agria, which listed in New York in 2008, said it planned "to explore external financing to facilitate expansion of our market reach in these key markets".
The company added that it considered "of strategic importance" its ability to "stay ahead of these market opportunities, with an aim of enhancing returns to its shareholders".
The ambitions defy a mixed record on acquisitions, with the comments coming as Agria unveiled an 883m remninbi ($144m) impairment loss relating to the PGG Wrightson acquisition.
The charge reflected "the overall financial performance and the share price of PGG Wrightson, the slower than expected recovery in the Australian market following poor weather and trading conditions".
PGG Wrightson itself reported a loss of NZ$306.5m for the period, and while this was largely down one-off factors its operating profit fell 40% to NZ$14.6m.
Agria acknowledged "challenging farm trading conditions in both New Zealand and Australia", thanks largely to dry weather which had hurt demand from livestock farmers.
Agria also revealed that it had lost 13m remninbi ($2.1m) on its 41m-remninbi sale in May of a 49% stake in China-based Wuwei Ganxin Seeds, a holding purchased three years ago.
Appetite for America
However, the US has increasingly represented a target for takeovers by Chinese companies.
Besides the Smithfield purchase, for an equity value of $4.7bn, other big Chinese takeovers in the US include International Lease Finance, bought from American International Group for $4.23bn in December.
China's Dalian Wanda Group bought Missouri-based theatre operator AMC Entertainment Holdings last year for $2.6bn to create the world's biggest cinema owner.
Agria unveiled a widening to 849.0m remninbi ($138m) in the group after-tax loss for the year to the end of June, compared with a loss of 16.0m remninbi a year before.
However, it was upbeat on prospects, saying that with a "return to normal conditions on farm, the company expects to see continued improvement in the fundamental performance of its business through the coming financial year".
The group, whose core business is seed sales, including China and South America, said that it would "continue to create value for its customers in these markets and generate long term significant investment return for its shareholders".
Agria shares closed down 7.8% at $1.07 in New York on Tuesday.